Propertymark responds to the latest Halifax House Price Index

Nathan Emerson, CEO of Propertymark, responds in anticipation of the latest Halifax House Price Index (7 September 2022) and its Housing Market Report.

Propertymark’s monthly Housing Market Report highlights:

• 41% of member branches report in July that the average time from offer accepted to exchanging contracts was now over 17 weeks.
• 62 new homebuyers registered per member branch in July.
• Nine new properties advertised for sale per member branch.

Read Propertymark’s full report here. 

Nathan Emerson said:

“Pre-pandemic seasonal trends are re-emerging as a summer lull continues within the market. However, buyer confidence remains strong pushing up the average time to sell to record breaking levels at over four months.

“The wider economic climate and rising energy costs have meant that buyers are negotiating harder and more and more buyers each month are starting to secure homes under the asking price.

“The number of properties coming the market is fairly static and interest rates remain at a historically low level despite recent rises so we anticipate that house prices will continue to slow in growth month on month but won’t drop significantly before the end of the year.”

Kindly shared by Propertymark

Main photo courtesy of Pixabay